San Francisco’s Union Square landmark sells for only 44% of original price

by

One Union Square in San Francisco, California sells for 44% of its price 12 years ago.

Sold for $42.5M. Purchased for $95.8M in 2013.

An ownership entity led by Douglas MacMahon bought the debt on the building, which was in foreclosure, for $42.5M.

“It’s MacMahon’s latest buy in a year-long streak of purchases in the Union Square area.

Last August, an investor group tied to MacMahon bought the four-story building at 225 Post Street from the parent company of former tenant Burberry to the tune of $17.4 million, according to the San Francisco Business Times. The following month, a MacMahon affiliate bought 11 retail properties across five buildings in Hayes Valley for $10.9 million.

“My partners and I are long-term investors, and we believe San Francisco in the long-term is a great market for investing in real estate,” MacMahon told The Real Deal at the time of the Hayes Valley buys. “We have made a number of investments in retail in the past so we are very comfortable with the asset class.”

39K SF Year built 1987

-therealdeal